China's foreign exchange reserves rose to 3.2320 trillion U.S. dollars at the end of May, up 0.98 percent from the end of April, the State Administration of Foreign Exchange said on Friday.

The country's foreign exchange regulator attributed this growth to the combined impact of currency translation and asset price changes.

The U.S. dollar index fell and the prices of global financial assets climbed last month, affected by the monetary policy expectations of major economies and their macroeconomic data, the regulator said.